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PENN TREATY AMERICAN REPORTS FIRST QUARTER 1992 RESULTS

 PENN TREATY AMERICAN REPORTS FIRST QUARTER 1992 RESULTS
 ALLENTOWN, Pa., May 4 /PRNewswire/ -- Penn Treaty American


Corporation (NASDAQ: PTAC) today announced increased sales and earnings for the first quarter of 1992.
 Net income for the three months ended March 31, 1992, totalled $1,839,651, an 18 percent increase over the previous year's first quarter of $1,557,645. Earnings per share increased 18 percent to 59 cents per share, compared to 50 cents per share for the same three- month period in the previous year. Premium revenue for the quarter totalled $15,081,867, a 16 percent increase over the previous year's three-month total of $12,947,886.
 Irving Levit, president and chief executive officer of the company, expressed his continued optimism about the company's growth: "We are quite satisfied with the company's increase in profitability during the first quarter. Long-term care business generated all of the company's new business premiums and the company experienced a growth in premiums despite a reduction in Medicare supplement premiums."
 Penn Treaty American Corporation, through its wholly owned direct and indirect subsidiaries, Penn Treaty Life Insurance Company, Network America Life Insurance Company and Cher-Britt Service Company, is primarily engaged in the underwriting, marketing and sale of individual fixed, defined benefit, accident and health insurance products principally covering long-term nursing home care and home health care. The company is licensed to conduct business in 44 states and the District of Columbia.
 /delval/
 -0- 5/4/92
 /CONTACT: Michael F. Grill, treasurer of Penn Treaty, 800-222-3469/
 (PTAC) CO: Penn Treaty American Corporation ST: Pennsylvania IN: INS SU: ERN


LJ-JS -- PH023 -- 6003 05/04/92 11:55 EDT
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Publication:PR Newswire
Date:May 4, 1992
Words:272
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